Bibox Buys Up 100 Percent Of Dex.Top
Good times for the Chinese based digital asset exchange, as it has successfully acquired . the decentralized token exchange, DEX.Top, which is a local to the capital of China. Speculation is still circulating, due to the companies outright refusals to talk about the cost of the acquisition. What is true is the fact that Bibox will be expanding its product offerings thanks to this.
Let's Try Out Something New
At this moment in time, Bibox, the China-based cryptocurrency exchange, which is responsible for the operation of 10 centers interspersed across the United States, Singapore, South Korea among a number of others. It is through these centers that the trade of various cryptos such as Bitcoin, Bitcoin Cash and Ethereum can take place.
This acquisition is officially the 2nd to come out of the last several months, the latest one being Chain Capital: a company based out of Switzerland which boasts unique licensing which allows them to do business within the European continent.
“The successful purchase of Dex.Top is the latest signal that Bibox is testing out something new in the world of digital currencies and assets,” according to Bihui Lin, a spokeswoman working on behalf of the company. Lin made it clear that the purchase would “not only improve the establishment of blockchain into Bibox's ecosystem easier, but would also allow for a more extensive range of trading options for users.”
Etherscan had previously compiled a great deal of data on the crypto exchange. And in terms of volume, Dex.Top is ranked as the 2nd larged decentralized asset exchange in the world when it comes to overall trade volume, and makes up a total of 21.3 percent of the grand total.
Above them, IDEX dominates with respect to trading volume, making up 46.4% of it. Officially, DEX.Top was launched in May, and proposed a unique system of digital asset trading across different blockchains. According to the team, it serves as “a mechanic that makes use of synchronized off-chain and on-chain ledgers, allowing for instantaneous trading, while allowing for higher levels of security for traders and the assets.”
‘Meeting Of Minds’
The company itself was alleged to have “discovered a meeting of the minds in Bibox.” This was made apparent within a public statement in mid-December:
“Both projects share a common vision of developing an outstanding trading experience with robust trading features while ensuring transparency and the security of users’ assets and data.”
The company went on to elaborate that “the acquisition will allow for the creation of a synergist relationship which will allow these projects to go the distance and beyond.”
In a time of great skepticism and untrustworthiness coming from digital currency exchanges, more are looking for evolution and movement into new areas, or to help solidify their positions in order to ensure long-term profitability, while also cutting potential risks that go hand-in-hand with an unregulated market.
Bibox have worked to develop over the course of its life, transforming to become one of the most popularly used exchanges in the world. The fact that it has managed to do that over such a short span of time is nothing short of impressive.